Blockchain technology in Supplychain and logistics

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• This era of competitive business operations has
  lead the business personnel to concentrate on the
  core of logistics and supply chain.
• The competitive advantage of a business can be
  explained based on the Supply chain Management
  involving Innovation and product development,
  Purchasing and sourcing, Manufacturing and
  operations, Logistics and distribution, Customer
  service, Global deployment.
• The primary aim of the logistics is to ensure
  that the customer receives the needed product at
  the required time and place with appropriate
  quality and price.

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LIMITATIONS IN SUPPLYCHAIN MANAGEMENT At times
the consumer does not have any idea about the
journey of the product received. There can also
be fraudulent activities in between the supply
chain which results in the tampered product or
increased price of the product, ultimately
decreasing the market for the particular
company. Due to increasing demand and the long
processes in supply chain, time delays in payment
as well as delay in services between the customer
and the manufacturer occurs more commonly. With
evolving technology such as block chain
development, these supply chain challenges can be
faced and sorted out.
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BLOCKCHAIN TECHNOLOGY AND THE WAY IT CAN HELP
SUPPLYCHAIN PROCESS Blockchain functions as a
distributed database which helps to process and
store the data from varied locations along the
same network/different networks. Every details
about a transaction will be stored in a block of
the Block chain technology, thus it acts as an
advantage to carry out the supply chain
management more effectively. This source of
information is updated/distributed in the
network thus making it unalterable once created.
This technology can be much useful in
Logistics and supply chains which will lead to a
positive impact throughout the Supply chain
processes leading to more transparency between
the producer and end customer.
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TRANSFORMING LOGISTICS AND SUPPLYCHAIN MANAGENT
WITH BLOCKCHAIN TECHNOLOGY Incorruptible
transaction Records- Transaction record that
occurs once a successful transaction is being
done are inalterable. Tracking facility- Just
like provisions of any e-commerce the tracking
facility in Block chain technology helps to track
the product throughout the process of Supply
chain. It allows the business personnel of
various levels of the Supply chain to trace the
product such as time of arrival, demand of
the product and the cost spent so far at various
levels of supply chain accurately. Customs work
made easy-The proper records of tariffs paid will
help in custom clearance easier and helps in
avoiding delay in the processes. .
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Product source information- Transparency of
product source helps both Customs as well as
consumer to verify and avoid unwanted
products. Helps to reduce Fraudulent activities-
Blockchain technology helps in reducing the
Fraudulent activities in the supply chain
process to a negligible amount. The tracing
allows the supply chain personnels to pin point
the where the tampering occurred if at all it
happens. Helps to monitor the seamless
transaction- At various levels of logistics and
supply chain and it helps to carry out the
transparent communication and monetary process
among supplier, manufacturer and customer. .
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